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Aundh bank, officials booked for duping account holders of Rs 3 crore

The bank office-bearers were booked for hatching a criminal conspiracy of duping its account holders.

pune Updated: Aug 05, 2018 14:27 IST
HT Correspondent
HT Correspondent
Hindustan Times, Pune
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The account holders were provided receipts with the same number, according to the complaint.(Getty Images/iStockphoto)

An Aundh-based public sector bank and three of its office-bearers were booked for duping investors of Rs 3,10,89,674. The bank identified as Lokmangal Nagari Sahkari Patsanstha Limited, Aundh, allegedly forged documents for fake gold loans and used the money for personal gains.

The complaint was lodged by Deepali Pardhi, 53, a resident of Pashan, who stated in her complaint that the incident happened between April 2016 and March 2017. She stated that the account holders of the bank lost their money and were not paid the promised amount of interest.

The bank office-bearers were booked for hatching a criminal conspiracy of duping its account holders. The account holders were provided receipts with the same number, according to the complaint. The gold loans from the bank were forged and a fake document trail of loan distribution was also made, according to the complaint.

The three accused were identified as Pradeep Padmakar Pavaskar, vice-president of the bank; and Pandharinath Genubhau Raut, both residents of Aundhgaon, and Nitin Ramesh Khond, a resident of Aundh. The organisation was also booked in the case. While the three have not been arrested yet, assistant police inspector Pramod Kshirsagar of the Chatuhshrungi police station is investigating the case.

A case under Sections 406 (criminal breach of trust), 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 420 (cheating), 465 (forgery), 467 (forgery of valuable security, will, etc.), 468 (forgery for purpose of cheating), 471 (using forged document as genuine), 120(b) (criminal conspiracy) and 34 (common intention) of the Indian Penal Code (IPC) was registered at the Chatuhshrunigi police station of the Pune police.

First Published: Aug 05, 2018 14:22 IST